Dear Readers, Daily Current Affairs Questions Quiz for SBI, IBPS, RBI, RRB, SSC Exam 2024 of 27th June 2024. Daily GK quiz online for bank & competitive exam. Here we have given the Daily Current Affairs Quiz based on the previous days Daily Current Affairs updates. Candidates preparing for IBPS, SBI, RBI, RRB, SSC Exam 2024 & other competitive exams can make use of these Current Affairs Quiz.

 

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1) As per June report, Several banks have requested clarification from the Reserve Bank of India (RBI) on the implementation of recommendations released on March 6, 2024, which require clients to pick from several card networks for credit cards. When will this directive take effect?

(a) September 6,2024

(b) October 6,2024

(c) November 6,2024

(d) December 6,2024

(e) August 6,2024

2) In June 2024, ICICI Bank's market value surpassed $100 billion for the first time. ICICI is India's second-largest bank by market capitalization, but after which bank?

(a) Axis bank

(b) Bandhan bank

(c) HDFC bank

(d) IDBI bank

(e) Federal bank

3) As per the June report, the Reserve Bank of India Reports Short-term debt's share of total external debt has declined by 2.1 percentage points. The external debt to GDP ratio fell to what percentage at the end of March 2024, down from 19.0% at the end of March 2023?

(a) 18.7%

(b) 18.6%

(c) 18.4%

(d) 18.5%

(e) 18.8%

4) Which company has expanded its exclusive agreement with ixigo to enable flight and bus bookings through the FinTech platform's app?

(a) Paytm

(b) Amazon Pay

(c) Google Pay

(d) PhonePe

(e) Razorpay

5) The Securities and Exchange Board of India has issued guidelines on the form and responsibilities of Market Infrastructure Institutions Committees. Each committee must be chaired by a Public Interest Director (PID) with appropriate competence, and PIDs should account for at least half of the committee members. PIDs can serve on a maximum of how many statutory committees?

(a) 4

(b) 5

(c) 6

(d) 7

(e) 3

6) In the January-March 2024 quarter, India's current account surplus was $5.7 billion, which corresponds to what percentage of GDP?

(a) 0.7%

(b) 0.6%

(c) 0.5%

(d) 0.8%

(e) 0.9%

7) In May 2024, the Department of Financial Services (DFS) of the Finance Ministry directed the State Bank of India (SBI) to organize a co-lending committee. The committee is chaired by Surender Rana, SBI's Deputy Managing Director. How many total representatives from the banking and NBFC sectors?

(a) 5

(b) 6

(c) 7

(d) 8

(e) 9

8) Which agency has maintained India's GDP growth prediction for the current fiscal year (FY 2024-25) at 6.8%?

(a) IMF

(b) World Bank

(c) Fitch

(d) S&P Global ratings

(e) RBI

9) Which edition of the ISO Council Meeting will be held in New Delhi from June 25th to 27th, 2024?

(a) 63rd

(b) 64th

(c) 65th

(d) 69th

(e) 67th

10) The 'India Africa Postal Leaders Meet' was held in India from June 21-25, 2024. How many African countries were represented by postal organizations, with 42 representatives including heads of administration and senior management?

(a) 21

(b) 22

(c) 23

(d) 24

(e) 25

11) Dr. Jitendra Singh, Union Minister with numerous ministries, initiated the "One Week, One Theme" (OWOT) campaign. How many primary themes does the campaign focus on?

(a) 7

(b) 8

(c) 9

(d) 10

(e) 11

12) Which tranche of the auction of essential and strategic minerals was launched by Union Minister of Coal and Mines, Shri G. Kishan Reddy, and Minister of State for Coal and Mines at the Scope Convention Centre in New Delhi?

(a) 3rd

(b) 4th

(c) 5th

(d) 6th

(e) 7th

13) The Telecom Act is partially announced; the government can now intercept and stop messages. According to the new guidelines, a SIM owner who has more than how many SIM cards faces fines of up to Rs 2 lakh?

(a) >5

(b) >6

(c) >7

(d) >8

(e) >9

14) The Ministry of Road Transport and Highways plans to implement satellite-based toll collection on all national highways in India in the next years. The Indian Highways Management Company Ltd. has expressed interest in adopting GNSS across the country, aiming to cover how many kilometers of national highways within 24 months of contract award?

(a) 40000km

(b) 50000km

(c) 30000km

(d) 60000km

(e) 80000km

15) A revised Pradhan Mantri Awas Yojana (PMAY) affordable housing initiative is anticipated to be included in the next Union Budget. The upcoming program, which is being called PMAY-U 2.0, will expand upon the successes and lessons learned from the existing PMAY, which has been in place since June of _______ and will expire in December of 2024.

(a) 2014

(b) 2015

(c) 2016

(d) 2017

(e) 2018

16) According to Dr. Jitendra Singh, Union Minister of State (Independent Charge), Department of Atomic Energy, India's nuclear power generation capacity is expected to surpass 13 GWe by 2029.Currently, what is the installed nuclear power generation capacity of India in terms of GWe?

(a) 7.48 GWe.

(b) 7.45 GWe.

(c) 7.50 GWe.

(d) 7.42 GWe.

(e) 7.46 GWe.

17) Which governance intends to establish "integrated residential campuses" in every assembly constituency, with Scheduled Castes (SC), Scheduled Tribes (ST), Backward Class (BC), and minority residential schools included?

(a) Kerala

(b) Telangana

(c) Haryana

(d) Karnataka

(e) West Bengal

18) In the forthcoming Budget, the Finance Ministry is expected to increase its nominal GDP growth prediction for 2024–25, signaling a strong economic expansion. Driven by faster growth trends, the updated prediction, which was first set at 10.5% in the interim budget, might go as high as _____%.

(a) 11.0%

(b) 10.75%

(c) 11.50%

(d) 12.0%

(e) 12.50%

19) A leading operator in renewable energy, Adani Green Energy, has declared intentions to invest Rs 2 trillion by 2030 to greatly increase its capacity. By 2030, how many GW of capacity will be increased?

(a) 40GW

(b) 50GW

(c) 100GW

(d) 60GW

(e) 80GW

20) How much of an Indian shipping line's possible $50 billion in yearly savings by 2030 was disclosed by the Federation of Indian Export Organizations (FIEO) in June 2024?

(a) 20%

(b) 25%

(c) 30%

(d) 35%

(e) 40%

21) GSTN data shows that Uttar Pradesh (UP), Tamil Nadu, and Maharashtra are the most active states in filing GST returns monthly. Which state leads in overall GST income collection?

(a) Gujarat

(b) Karnataka

(c) Maharashtra

(d) Telangana

(e) Tamil Nadu

22) What is the amount of money that a proposed antitrust settlement between Visa and Mastercard, which sought to resolve fees charged to retailers who accept their credit and debit cards, was rejected by US District Judge Margo Brodie?

(a) $30 billion

(b) $40 billion

(c) $50 billion

(d) $60 billion

(e) $20 billion

23) In the 'Leadership in Digital Transformation' category, RailTel received the ET Government PSU Leadership & Excellence Award 2024, for its outstanding performance. Which ET Govt National PSU Summit 2024 edition featured the award ceremony?

(a) 4th

(b) 5th

(c) 6th

(d) 7th

(e) 3rd

24) Which company received the Outlook Planet Sustainability Summit & Awards 2024's "Sustainable Governance Champion Award"?

(a) GRSE

(b) ONGC

(c) HPCL

(d) HAL

(e) BHEL

25) Tata Electronics has signed a memorandum of understanding (MoU) to improve process technology and foundry design capabilities at India's first semiconductor fab in Dholera with which nation-based chip design pioneer Synopsys?

(a) Japan

(b) Russia

(c) USA

(d) UAE

(e) Finland

26) Which IIT and the University of Leeds, UK have agreed to form the Joint Virtual Centre of Excellence on Sustainable Development (VCoE-SD) through a Memorandum of Understanding (MoU)?

(a) IIT Kanpur

(b) IIT Kochi

(c) IIT Madras

(d) IIT Bombay

(e) IIT Pune

27) In June 2024, Sri Lanka plans to negotiate deals with India and also what country restructured bilateral debt, indicating progress in its economic recovery?

(a) Japan

(b) Russia

(c) USA

(d) UAE

(e) Finland

28) A ________________foot suspension bridge built in north Sikkim by Indian Army engineers was completed in less than 48 hours. More than 20 knots of water flowed over the river where the bridge was constructed.

(a) 150

(b) 120

(c) 140

(d) 160

(e) 180

29) Which Indian state represents Defence Services Staff College's partner in strategic and operational studies with Defence Services Command and Staff College, Dhaka?

(a) Kerala

(b) Maharashtra

(c) Karnataka

(d) Tamil Nadu

(e) Gujarat

30) The European Medicines Agency (EMA) has approved Biocon Biologics Limited (BBL), a global, integrated biosimilars company and a subsidiary of Biocon Limited, to manufacture biosimilar Bevacizumab at its new, world-class, multi-product monoclonal antibodies (mAbs) drug substance facility in which city?

(a) Kolkata

(b) Bengaluru

(c) Hyderabad

(d) Chennai

(e) Kohima

31) As per the June report, India won how many medals at the Under-17 Asian Wrestling Championships in Amman, Jordan?

(a) 12

(b) 14

(c) 15

(d) 11

(e) 13

32) Who is an Asian Games medalist who has been picked by the Equestrian Federation of India (EFI) to represent India in the dressage event at the forthcoming Paris Olympics?

(a) Shruti Vora

(b) Samarth Gajanan

(c) Anush Agarwalla

(d) Sachin Kumar

(e) Dipanshi

33) The Indian Olympic Association (IOA) has promised significant monetary awards for Indian competitors who win medals at the Paris Olympic Games. Which of the following pairs is correct for individual medallists?

(a) Gold Medalists- Rs 2 crore

(b) Silver Medalists-Rs 1 crore

(c) Bronze Medalists- Rs 50 lakh

(d) Both A&B correct

(e) Only C correct

34) Frank Duckworth, an English statistician and one of the developers of the Duckworth-Lewis-Stern (DLS) method, died at the age of 84. Duckworth and colleague statistician Tony Lewis developed the Duckworth-Lewis method for determining results in rain-affected cricket matches. Which year observed the method's debut in international cricket?

(a) 1995

(b) 1994

(c) 1992

(d) 1997

(e) 1999

35) Jessica Pegula eliminates Coco Gauff in the semis and defeats Anna Kalinskaya to win the Berlin Open. Jessica Pegula is currently ranked ____ in the world.

(a) 4th

(b) 5th

(c) 6th

(d) 7th

(e) 3rd

Answers :

1) Answer: A

Short Explanation:

• Several banks have sought clarity from the Reserve Bank of India (RBI) regarding the implementation of guidelines issued on March 6,2024 which mandate offering customers the option to choose from multiple card networks for credit cards.
• Objective of the Guidelines: To promote customer choice and eliminate exclusive agreements between card issuers and networks.
• This directive will take effect from September 6, 2024.

Detailed Explanation:

• Several banks have sought clarity from the Reserve Bank of India (RBI) regarding the implementation of guidelines issued on March 6,2024 which mandate offering customers the option to choose from multiple card networks for credit cards.
• Objective of the Guidelines: To promote customer choice and eliminate exclusive agreements between card issuers and networks.
• This directive will take effect from September 6, 2024.
• Applicability:The RBI guidelines will be applicable to only those credit card issuers with a number of active cards issued greater than 10 lakh and exempt card issuers who issue credit cards on their own authorised card network.
• Provisions of the Guidelines:Card issuers must allow eligible customers to choose from multiple card networks (e.g., Diners Club International, MasterCard, NPCI-Rupay, Visa) at the time of initial issuance.
• Major issuers like HDFC Bank, SBI Card, ICICI Bank, and Axis Bank fall under this category.
• American Express, operating on its own authorized network, is excluded from these norms.
• Impact on Co-Branded Cards:The RBI circular did not clarify whether the guidelines apply to co-branded cards, which are typically offered on a single platform.
• Industry Statistics: As of February 2024, the total number of credit cards issued in India exceeded 100 million, with a monthly addition of 1.1 million cards.

2) Answer: C

Short Explanation:

• ICICI Bank’s market capitalization crossed the $100 billion mark for the first time.
• It became the 6th Indian company to achieve this milestone.
• ICICI is the second-largest bank in India by market capitalization, after HDFC
• It is also the fifth-largest entity by market value.

Detailed Explanation:

• ICICI Bank’s market capitalization crossed the $100 billion mark for the first time.
• It became the 6th Indian company to achieve this milestone.
• ICICI is the second-largest bank in India by market capitalization, after HDFC
• It is also the fifth-largest entity by market value.
• Currently, Reliance Industries is leading the list with a market capitalisation of $236 billion, followed by TCS with a market value of $166 billion.
• ICICI Bank joins Reliance Industries, Tata Consultancy Services, HDFC Bank, Bharti Airtel, and
• Share Price Performance:ICICI Bank shares hit a record high of Rs 1,207 and last closed at Rs 1,199, up 2.5%. This valuation places the firm at Rs 8.44 trillion ($100 billion).
• Dividend Declaration:The Bank declared a dividend of Rs 10 per equity share of face value Rs 2 each

3) Answer: A

Short Explanation:

• At the end of March 2024, India’s external debt was US$ 663.8 billion, an increase of US$ 39.7 billion over the end of March 2023.
• Excluding the valuation effect of US$ 8.7 billion due to the appreciation of the US dollar, the external debt increase would have been US$ 48.4 billion.
• Debt to GDP Ratio:The external debt to GDP ratio declined to 18.7% at the end of March 2024 from 19.0% at the end of March 2023.

Detailed Explanation:

• At the end of March 2024, India’s external debt was US$ 663.8 billion, an increase of US$ 39.7 billion over the end of March 2023.
• Excluding the valuation effect of US$ 8.7 billion due to the appreciation of the US dollar, the external debt increase would have been US$ 48.4 billion.
• Debt to GDP Ratio:The external debt to GDP ratio declined to 18.7% at the end of March 2024 from 19.0% at the end of March 2023.
• Long-Term Debt:Long-term debt (original maturity above one year) was US$ 541.2 billion at the end of March 2024, an increase of US$ 45.6 billion over the end of March 2023.
• Short-Term Debt:The share of short-term debt (original maturity up to one year) in total external debt declined to 18.5% at end-March 2024 from 20.6% at end-March 2023.
• Currency Composition:
• US dollar-denominated debt: 53.8% of total external debt.
• Indian rupee-denominated debt: 31.5%.
• Yen-denominated debt: 5.8%.
• Special Drawing Rights (SDR): 5.4%.
• Euro-denominated debt: 2.8%.
• Debt by Sector:
• The share of outstanding debt for non-financial corporations: 37.4%.
• Deposit-taking corporations (except the central bank): 28.1%.
• General government: 22.4%.
• Other financial corporations: 7.3%.
• Debt Components:
• Loans: 33.4% of total external debt.
• Currency and deposits: 23.3%.
• Trade credit and advances: 17.9%.
• Debt securities: 17.3%.
• Debt Service:Debt service obligations (principal and interest payments) increased to 6.7% of current receipts at the end of March 2024 from 5.3% at the end of March 2023.

4) Answer: D

Short Explanation:

• Travel booking platform ixigo has expanded its exclusive partnership with PhonePe to offer flight and bus bookings on the fintech platform's app.
• Previously, the partnership focused on providing booking services for trains.
• Enhanced Travel Booking Services:The expanded partnership aims to provide a more comprehensive travel booking experience for over 54 crore PhonePe users.

Detailed Explanation:

• Travel booking platform ixigo has expanded its exclusive partnership with PhonePe to offer flight and bus bookings on the fintech platform's app.
• Previously, the partnership focused on providing booking services for trains.
• Enhanced Travel Booking Services:The expanded partnership aims to provide a more comprehensive travel booking experience for over 54 crore PhonePe users.
• Benefits for Users:Travellers, especially from tier-II/III cities, will benefit from enhanced access to travel booking services tailored for the next billion users.
• PhonePe's extensive reach in smaller towns and its fintech expertise will complement ixigo's travel products and offerings.
• Payment and Offers:The collaboration promises simpler payment processes and offers exciting discounts and deals on flight, train, and bus bookings.
• PhonePe users can access advanced features and value-added services provided by the ixigo group, enhancing their booking experience.

5) Answer: B

Short Explanation:

• Markets regulator Securities and Exchange Board of India (SEBI) revised its oversight framework for stock exchanges and other market infrastructure institutions (MIIs), defining the structure and responsibilities of various statutory committees to enhance governance.
• Composition Guidelines:Committees should include Key Management Personnel (KMP), Non-Independent Directors (NIDs), Independent External Professionals (IEPs), and Public Interest Directors (PIDs).
• PIDs are limited to serving on a maximum of 5 statutory committees.

Detailed Explanation:

• Markets regulator Securities and Exchange Board of India (SEBI) revised its oversight framework for stock exchanges and other market infrastructure institutions (MIIs), defining the structure and responsibilities of various statutory committees to enhance governance.
• Categories of Statutory Committees: Statutory committees of MIIs are categorized into functional, oversight, and investment committees.
• Composition Guidelines:Committees should include Key Management Personnel (KMP), Non-Independent Directors (NIDs), Independent External Professionals (IEPs), and Public Interest Directors (PIDs).
• Each committee must be chaired by a PID with relevant expertise, and PIDs should constitute at least half of the committee members.
• Responsibilities and Terms of Reference:Specific responsibilities and terms of reference are outlined for each statutory committee.
• Compliance Requirements:MIIs must establish mandatory committees as required by applicable laws.
• PIDs are limited to serving on a maximum of 5 statutory committees.
• Implementation Timeline:The new guidelines will be effective within 30 days of the issuance of the circular by Sebi.

6) Answer: B

Short Explanation:

• India's current account recorded a surplus of $5.7 billion, equivalent to 0.6% of gross domestic product (GDP), in the January-March 2024 quarter.
• This marks a significant improvement from a deficit of $1.3 billion (0.2% of GDP) in Q4 FY2023 and a deficit of $8.7 billion (1% of GDP) in Q3 FY24.
• The current account deficit is the difference between exports and imports of goods and services.

Detailed Explanation:

• India's current account recorded a surplus of $5.7 billion, equivalent to 0.6% of gross domestic product (GDP), in the January-March 2024 quarter.
• This marks a significant improvement from a deficit of $1.3 billion (0.2% of GDP) in Q4 FY2023 and a deficit of $8.7 billion (1% of GDP) in Q3 FY24.
• The current account deficit is the difference between exports and imports of goods and services.
• It is a key indicator of the country’s external sector.
• Full-Year Current Account Deficit (FY24):For the full fiscal year FY24, India's current account deficit moderated to $23.2 billion, or 0.7% of GDP, down from $67 billion (2% of GDP) in FY23.
• The improvement was driven by a lower merchandise trade deficit throughout the year.
• Merchandise Trade Deficit:In Q4 FY24, India's merchandise trade deficit stood at $50.9 billion, lower than $52.6 billion in the same period a year ago.
• This reduction contributed significantly to the overall current account surplus.
• Net services receipts were higher at $42.7 billion compared to $39.1 billion a year ago, contributing to the current account surplus.
• Private transfer receipts, mainly remittances, amounted to $32 billion, up 11.9% from the previous year.
• Investment Flows:Net foreign direct investment (FDI) flows declined to $2 billion in Q4 FY24 from $6.4 billion a year ago.
• Foreign portfolio investment (FPI) recorded a net inflow of $11.4 billion compared to a net outflow of $1.7 billion in Q4 FY23.
• External commercial borrowings saw a net inflow of $2.6 billion in Q4 FY24, up from $1.7 billion a year ago.
• Non-resident deposits recorded a higher net inflow of $5.4 billion than $3.6 billion.
• Foreign Exchange Reserves:India's foreign exchange reserves increased by $30.8 billion in Q4 FY24 on a balance of payments basis, reflecting a robust accretion.

7) Answer: B

Short Explanation:

• The Department of Financial Services (DFS) under the finance ministry instructed the State Bank of India (SBI) to form a committee on co-lending in May 2024.
• The committee aims to encourage co-lending partnerships between commercial banks and non-banking financial companies (NBFCs) by addressing business model issues.
• Composition and Leadership:The committee is chaired by Surender Rana, Deputy Managing Director of SBI.
• It includes totally of 6 representatives 3 from Punjab National Bank, Union Bank of India, Central Bank of India (from the banking sector), and 3 from NBFCs.

Detailed Explanation:

• The Department of Financial Services (DFS) under the finance ministry instructed the State Bank of India (SBI) to form a committee on co-lending in May 2024.
• The committee aims to encourage co-lending partnerships between commercial banks and non-banking financial companies (NBFCs) by addressing business model issues.
• Composition and Leadership:The committee is chaired by Surender Rana, Deputy Managing Director of SBI.
• It includes totally 6 representatives 3 from Punjab National Bank, Union Bank of India, Central Bank of India (from the banking sector), and 3 from NBFCs.
• Meetings and Timeline:The committee held its first meeting on May 31,2024 and has scheduled another for June 28, 2024.
• It plans to submit its recommendations to DFS by next month (July,2024).
• Regulatory Framework:RBI permits banks to co-lend or co-originate loans with NBFCs to increase credit flow to underserved sectors.
• NBFCs are required to retain a minimum of 20% share of individual loans on their books as per regulatory norms.
• Expected Guidelines:Post-committee report submission, DFS is expected to formulate guidelines to boost the co-lending segment.
• Market Predictions:CRISIL Ratings forecasts co-lending portfolios of NBFCs to reach Rs 1 trillion by June 2024, with an annual growth rate of 35-40% over the medium term.
• Challenges and Recommendations:The committee will examine the reasons behind banks' hesitancy to enter the co-lending space.

8) Answer: D

Short Explanation:

• S&P Global Ratings retained India's Gross Domestic Product (GDP) growth forecast for the current financial year (FY 2024-25) at 6.8%.
• This forecast is lower than the Reserve Bank of India's (RBI) projection of 7.2% growth for the same period.
• Previous Fiscal Year Performance:India's economy grew by 8.2% in the fiscal year 2023-24, exceeding expectations.
• Future Projections:For FY 2025-26 and FY 2026-27, S&P projected growth rates of 6.9% and 7%, respectively.

Detailed Explanation:

• S&P Global Ratings retained India's Gross Domestic Product (GDP) growth forecast for the current financial year (FY 2024-25) at 6.8%.
• This forecast is lower than the Reserve Bank of India's (RBI) projection of 7.2% growth for the same period.
• Previous Fiscal Year Performance:India's economy grew by 8.2% in the fiscal year 2023-24, exceeding expectations.
• Future Projections:For FY 2025-26 and FY 2026-27, S&P projected growth rates of 6.9% and 7%, respectively.
• Comparison with Other Agencies:
• Fitch estimates India's growth at 7.2% for FY 2024-25.
• The Asian Development Bank (ADB) estimates a 7% growth rate.
• Moody's Ratings and Deloitte India project a 6.6% growth rate.
• Morgan Stanley forecasts a 6.8% growth rate.
• Inflation Projections:S&P projected India's retail inflation at 4.5% for FY 2024-25, aligning with the RBI's forecast.
• RBI's quarterly inflation projections for FY 2024-25 are 5%, 4%, 4.6%, and 4.7%.
• China's GDP Forecast:For comparison, S&P raised its 2024 GDP growth forecast for China to 4.8% from 4.6%, despite expecting a sequential slowdown in the second quarter.
• RBI Policy Rate: S&P expects the RBI to reduce its policy rate to 6% in the current financial year from 6.5% at present.

9) Answer: B

Short Explanation:

• India is hosting a significant global event in the sugar sector, the 64^th 'ISO Council Meeting,' in New Delhi from June 25th to 27th, 2024.
• Given its status as the world's largest consumer and the second-largest producer of sugar, India has been nominated as the Chair of the International Sugar Organization (ISO) for 2024.

Detailed Explanation:

• India is hosting a significant global event in the sugar sector, the 64^th 'ISO Council Meeting,' in New Delhi from June 25th to 27th, 2024.
• This gathering will see delegates from over 30 countries and representatives from numerous international organizations come together to discuss critical issues related to the sugar and biofuel sectors.

India Named Chair of ISO for 2024

• Given its status as the world's largest consumer and the second-largest producer of sugar, India has been nominated as the Chair of the International Sugar Organization (ISO) for 2024.
• To kick off the event, international delegates will tour a grain-based distillery in Muzaffarnagar, Uttar Pradesh on June 24, 2024.
• This visit aims to showcase India's adoption of the latest technology in biofuel production and other by-products.

Workshop on Sugar and Biofuels

• A workshop titled 'Sugar and Biofuels – Emerging Vistas' will be held on June 25, 2024, at Bharat Mandapam.
• Shri Pralhad Joshi, Union Minister of Consumer Affairs, Food and Public Distribution, and New & Renewable Energy, will inaugurate the event.

10) Answer: B

Short Explanation:

• The ‘India Africa Postal Leaders Meet’ took place in India from June 21st to 25th, 2024.
• This event aimed to fortify relationships between postal administrations of African nations and India.
• African Participation:Postal organizations from 22 African countries participated, with 42 heads of postal administrations and senior management personnel attending as delegates.

Detailed Explanation:

• The ‘India Africa Postal Leaders Meet’ took place in India from June 21st to 25th, 2024.
• This event aimed to fortify relationships between postal administrations of African nations and India.
• Initiative Under Universal Postal Union: This meeting was part of the “South-South and Triangular Cooperation” program by the Universal Postal Union, supported by India Post and the United States Postal Service.
• Backdrop of Strategic Initiatives: This significant gathering comes on the heels of India’s strategic initiatives, such as the 'Voice of Global South Summit,' the India-Africa Forum, and the inclusion of the African Union in the G20 during India’s 2023 Presidency.
• African Participation:Postal organizations from 22 African countries participated, with 42 heads of postal administrations and senior management personnel attending as delegates.
• Key Theme: Capacity Building: The meet focused on capacity building through study visits. These visits highlighted India’s successful service delivery model via its extensive post office network.

11) Answer: B

Short Explanation:

• Union Minister Dr Jitendra Singh, holding multiple significant portfolios, launched the "One Week One Theme" (OWOT) campaign.
• Eight Key Themes:The campaign focuses on eight major themes:

1. Energy and Energy Devices
2. Chemicals and Petrochemicals
3. Aerospace, Electronics, and Strategic Sectors
4. Civil Infrastructure and Engineering
5. Agriculture, Nutrition, and Biotech
6. Healthcare
7. Mining, Minerals, Metals, and Materials
8. Ecology, Environment, Earth, Ocean Sciences, and Water

Detailed Explanation:

• Union Minister Dr Jitendra Singh, holding multiple significant portfolios, launched the "One Week One Theme" (OWOT) campaign.
• Campaign Objective: It aims to integrate the efforts of all CSIR labs working on similar projects to reduce overlap and optimize resources.
• The OWOT initiative under the Council for Scientific and Industrial Research (CSIR) aims to make innovation inclusive for all.
• Background of OWOT: OWOT is the brainchild of Dr. Jitendra Singh and builds on the success of last year's ‘One Week One Lab’ (OWOL) initiative, also guided by him. OWOL achieved notable success with around 24 technology transfers, product launches, and MoUs signed in the presence of Dr. Singh.
• Eight Key Themes:The campaign focuses on eight major themes:

1. Energy and Energy Devices
2. Chemicals and Petrochemicals
3. Aerospace, Electronics, and Strategic Sectors
4. Civil Infrastructure and Engineering
5. Agriculture, Nutrition, and Biotech
6. Healthcare
7. Mining, Minerals, Metals, and Materials
8. Ecology, Environment, Earth, Ocean Sciences, and Water

Integration Efforts: The initiative aims to integrate CSIR lab efforts to streamline projects and optimize resources, fostering collaboration and reducing redundancies across various scientific fields.

12) Answer: B

Short Explanation:

• Union Minister of Coal and Mines, Shri G. Kishan Reddy, along with Minister of State for Coal and Mines, Shri Satish Chandra Dubey, launched the 4th tranche of the auction of critical and strategic minerals at Scope Convention Centre, CGO Complex, New Delhi.

Detailed Explanation:

• Union Minister of Coal and Mines, Shri G. Kishan Reddy, along with Minister of State for Coal and Mines, Shri Satish Chandra Dubey, launched the 4th tranche of the auction of critical and strategic minerals at Scope Convention Centre, CGO Complex, New Delhi.
• Blocks Auctioned: The 4th tranche includes 21 blocks of critical minerals. This comprises 11 fresh blocks across Arunachal Pradesh, Chhattisgarh, Jharkhand, Karnataka, Rajasthan, and Uttar Pradesh, featuring minerals like Graphite, Glauconite, Phosphorite, Potash, Nickel, PGE, Phosphate, and Rare Earth Elements (REE).
• Second Attempt Blocks: Additionally, 10 critical mineral blocks from previous tranches are re-offered, located in Andhra Pradesh, Arunachal Pradesh, Chhattisgarh, Karnataka, Maharashtra, and Tamil Nadu, containing minerals such as Tungsten, Vanadium, Graphite, Glauconite, Cobalt, and Nickel.
• Research and Development Support: The Ministry of Mines allocated funds for R&D projects in the mining and metallurgy sector, disbursing grants to 24 R&D institutes and 10 startups, totalling ₹12.37 Cr. and ₹11.26 Cr., respectively.

13) Answer: E

Short Explanation:

• Certain sections of the Telecommunications Act, of 2023 from 26th June 2024, will be enforced, focusing on public safety, emergency response, and regulatory enhancements.

New Rules and Penalties:

• Telecom Infrastructure Rights: Authorities can install telecom infrastructure on private land under specific conditions, even if the landowner objects.
• Advertisement Consent: Telecom companies must obtain user consent for receiving advertising messages, with penalties for unauthorized commercial messages potentially leading to telco suspensions.
• SIM Ownership: Possessing more than 9 SIM cards incurs fines up to Rs 2 lakh.
• Digital Bharat Nidhi: The Universal Service Obligation Fund transitions to Digital Bharat Nidhi, emphasizing digital connectivity initiatives.

Detailed Explanation:

• Certain sections of the Telecommunications Act, of 2023 from 26th June 2024, will be enforced, focusing on public safety, emergency response, and regulatory enhancements.

Interception and Control Measures:

• Message Interception: Section 20 (2) grants authority to the government to intercept messages during public safety emergencies, expanding interception capabilities across government agencies.

New Rules and Penalties:

• Telecom Infrastructure Rights: Authorities can install telecom infrastructure on private land under specific conditions, even if the landowner objects.
• Advertisement Consent: Telecom companies must obtain user consent for receiving advertising messages, with penalties for unauthorized commercial messages potentially leading to telco suspensions.
• SIM Ownership: Possessing more than 9 SIM cards incurs fines up to Rs 2 lakh.
• Digital Bharat Nidhi: The Universal Service Obligation Fund transitions to Digital Bharat Nidhi, emphasizing digital connectivity initiatives.

Upcoming Provisions:

• Delayed Implementation: Administrative allocation of satellite spectrum, biometric user verification, and enhanced telecom dispute resolution mechanisms will be implemented later.

Innovation and Technology Focus:

• Regulatory Sandbox: Introduced to foster innovation and trial new technologies within the telecom sector, promoting growth and development.

14) Answer: B

Short Explanation:

• The Ministry of Road Transport and Highways aims to implement satellite-based toll collection across all national highways in India in the coming years.
• By December 2024, the Global Navigation Satellite System (GNSS) framework will be operational on 5,000 kilometres of national highways.

Pilot Project and Rollout Plans:

• Pilot Phase: The government plans to establish a case study with the initial 5,000-kilometer pilot by the end of FY25 to assess feasibility and effectiveness.
• Expression of Interest: The Indian Highways Management Company Ltd. has issued an expression of interest for implementing GNSS across the country, aiming to cover 50,000 kilometers of national highways within 24 months from the contract award

Detailed Explanation:

• The Ministry of Road Transport and Highways aims to implement satellite-based toll collection across all national highways in India in the coming years.
• By December 2024, the Global Navigation Satellite System (GNSS) framework will be operational on 5,000 kilometres of national highways.

Pilot Project and Rollout Plans:

• Pilot Phase: The government plans to establish a case study with the initial 5,000-kilometer pilot by the end of FY25 to assess feasibility and effectiveness.
• Expression of Interest: The Indian Highways Management Company Ltd. has issued an expression of interest for implementing GNSS across the country, aiming to cover 50,000 kilometers of national highways within 24 months from the contract award.

Implementation Details:

• Tender Requirements: As per tender documents, the implementation will involve deploying GNSS technology for toll collection, enhancing efficiency and transparency in highway management.
• Current Toll Revenue: Presently, 75% of the National Highways Authority of India’s (NHAI) toll revenue of Rs 54,000 crore is generated from commercial vehicles, with the remaining from personal vehicles.

Strategic Goals: This initiative underscores the government's commitment to modernizing toll collection systems, leveraging satellite technology to improve accuracy, reduce congestion, and enhance user convenience on national highways.

What is GNSS?

• Global navigation satellite system (GNSS) is a general term describing any satellite constellation that provides positioning, navigation, and timing (PNT) services on a global or regional basis.

15) Answer: B

Short Explanation:

• Government Initiative: The upcoming Union Budget is expected to introduce a reworked affordable housing scheme targeting Economically Weaker Sections (EWS), Low Income Group (LIG), and Middle Income Group (MIG) in urban areas, according to sources from the Housing and Urban Affairs Ministry.
• PMAY-U 2.0:The new scheme, tentatively named PMAY-U 2.0, will build upon the experiences and outcomes of the current PMAY, operational since June 2015 and ending in December 2024.

Detailed Explanation:

• Government Initiative:The upcoming Union Budget is expected to introduce a reworked affordable housing scheme targeting Economically Weaker Sections (EWS), Low Income Group (LIG), and Middle Income Group (MIG) in urban areas, according to sources from the Housing and Urban Affairs Ministry.

Expansion of PMAY:

• Cabinet Approval: The Cabinet, under Prime Minister Narendra Modi's leadership, approved an additional three crore houses under the Pradhan Mantri Awas Yojana (PMAY), with one crore allocated for urban areas (PMAY-Urban).
• PMAY-U 2.0:The new scheme, tentatively named PMAY-U 2.0, will build upon the experiences and outcomes of the current PMAY, operational since June 2015 and ending in December 2024.

Focus and Objectives:

• Targeted Beneficiary Reach: The revamped scheme aims for improved targeting of beneficiaries to ensure all eligible individuals receive housing assistance promptly.
• Timely Completion: Emphasis on disbursing completed homes in a timely manner to meet the housing needs of urban EWS, LIG, and MIG segments.

Implementation and Budget Allocation:

• Budget Funding: PMAY-U 2.0 is expected to be funded through the upcoming Union Budget, aligning with the government's commitment to affordable housing initiatives.
• Launch Timeline: Anticipated launch before December 2024 to continue addressing urban housing challenges effectively.

16) Answer: A

Short Explanation:

• India’s nuclear power generation capacity is poised to cross 13 GWe by 2029, according to Dr. Jitendra Singh, Union Minister of State (Independent Charge), Department of Atomic Energy.

Projected Capacity Increase

• Current Capacity: India's installed nuclear power generation capacity stands at 7.48 GWe.
• Future Projection: Expected to increase to 13.08 GWe by 2029.
• New Reactors: The commissioning of seven new reactors will contribute to this capacity expansion.

Detailed Explanation:

• India’s nuclear power generation capacity is poised to cross 13 GWe by 2029, according to Dr. Jitendra Singh, Union Minister of State (Independent Charge), Department of Atomic Energy.

Projected Capacity Increase

• Current Capacity: India's installed nuclear power generation capacity stands at 7.48 GWe.
• Future Projection: Expected to increase to 13.08 GWe by 2029.
• New Reactors: The commissioning of seven new reactors will contribute to this capacity expansion.

Innovative Projects and Technologies

• Pressurized Heavy Water Reactor (PHWR):
  • Designing a 220-MW PHWR to incorporate Bharat Small Reactor (BSR) for captive nuclear power generation.
• Bharat Small Modular Reactor (BSMR):
  • Development of a 220-MW BSMR utilizing light water-based reactors, replacing Calandria with a pressure vessel design.

Fast Breeder Reactor Progress

• Prototype Fast Breeder Reactor (PFBR):
  • BHAVINI, a public sector undertaking, is advancing towards completing initial fuel loading.
  • Expected to achieve its first approach to criticality soon, marking a milestone as India's first fast-breeder reactor to produce more fuel than it consumes.

17) Answer: B

Short Explanation:

• The Telangana government is planning to set up 'integrated residential campuses', comprising Scheduled Castes (SC), Scheduled Tribes (ST), Backward Class (BC), and minority residential schools, in all assembly constituencies.
• The integrated campuses would be set up as pilot projects in Kodangal (CM's assembly segment) and Madhira (represented by deputy CM).

Detailed Explanation:

• The Telangana government is planning to set up 'integrated residential campuses', comprising Scheduled Castes (SC), Scheduled Tribes (ST), Backward Class (BC), and minority residential schools, in all assembly constituencies.
• The decision to establish integrated campuses instead of separate SC, ST, BC, and minority residential schools.
• The integrated campuses would be set up as pilot projects in Kodangal (CM's assembly segment) and Madhira (represented by deputy CM).
• They would be constructed in all assembly segments in a phased manner.
• The campuses would have modern facilities for students, comparable to the private international schools in existence.
• The campuses would come up in an area of 20-25 acres.

18) Answer: A

Short Explanation:

• The finance ministry is poised to revise upwards its nominal gross domestic product (GDP) growth forecast for 2024-25 in the upcoming Budget, indicating robust economic expansion.
• Originally set at 10.5 per cent in the interim budget, the revised projection may range from 10.5 per cent to 11 per cent, driven by accelerated growth trends.

Detailed Explanation:

• The finance ministry is poised to revise upwards its nominal gross domestic product (GDP) growth forecast for 2024-25 in the upcoming Budget, indicating robust economic expansion.
• Originally set at 10.5 per cent in the interim budget, the revised projection may range from 10.5 per cent to 11 per cent, driven by accelerated growth trends.

Historical Context and Trends

• Budget Track Record: Analysis shows previous budgets often adjusting nominal GDP projections, with instances of both overestimation and underestimation.
• Example: In FY20, the final budget raised the nominal GDP growth target to 12 percent from an interim 11.5 percent, demonstrating flexibility in economic planning.

RBI's Economic Assessments

• Recent Revisions: The Reserve Bank of India (RBI) has also revised its forecast for real GDP growth in FY25 to 7.2 percent, up from an earlier 7 percent estimate.
• Real GDP Calculation: Derived by adjusting nominal GDP with the GDP deflator, emphasizing inflation impacts, primarily through data like the Wholesale Price Index (WPI).

19) Answer: B

Short Explanation:

• Adani Green Energy, a prominent player in renewable power, has announced plans to invest Rs 2 trillion by 2030 to expand its capacity
• Current Capacity:9 GW
• Targeted Expansion: To increase capacity to 50 GW by 2030

Detailed Explanation:

• Adani Green Energy, a prominent player in renewable power, has announced plans to invest Rs 2 trillion by 2030 to expand its capacity
• Current Capacity:9 GW
• Targeted Expansion: To increase capacity to 50 GW by 2030

Funding Details:

• Equity Contribution: Already secured 25% equity contribution
• Debt Financing: Remaining funds tied up with lenders, including revolving facilities

Financial Strategy:

• Adani Family Investment: Already invested Rs 2,338 crore, with further commitments expected over the next 18 months.
• Debt Management: Ensured financing to fully redeem a Holdco bond of US$ 750 million due in September 2024, alongside equity injections for sustainable growth.

International Financing Expansion:

• Construction Facility Pool: Expanded from $1.64 billion to $3.4 billion, bolstering financial flexibility and support for achieving the 2030 expansion goals.

20) Answer: B

Short Explanation:

• Exporters recently met with Finance Minister Nirmala Sitharaman to present their key requests and priorities ahead of Budget 2024, Aim for a 25% share by an Indian shipping line to potentially save $50 billion annually by 2030 reported by the Federation of Indian Export Organisations(FIEO)

Detailed Explanation:

• Exporters recently met with Finance Minister Nirmala Sitharaman to present their key requests and priorities ahead of Budget 2024, Aim for a 25% share by an Indian shipping line to potentially save $50 billion annually by 2030 reported by the Federation of Indian Export Organisations(FIEO)

1. Creation of an Indian Shipping Line:

• Objective: Address the rising outward remittance on transport services due to increasing exports.

2. Duty Cuts on Imports:

• Targeted Products: Including wet blue leather.
• Purpose: Reduce import costs, enhancing competitiveness in global markets.

3. Extension of Export Credit Scheme:

• Scheme: Extend pre- and post-shipment rupee export credit for small exporters.
• Importance: Ensure continuous financial support throughout the export process.

4. Duty Drawback for Platinum Jewellery:

• Request: Seek duty drawback benefits to support platinum jewellery exports.
• Benefit: Enhance export incentives and competitiveness in the jewellery sector.

Additional Industry Requests:

• Interest Equalisation Scheme Extension:
  • Scope: Request for higher incentives under the interest equalisation scheme beyond its current validity till June 30.
  • Impact: Support exporters across various sectors, including MSMEs.
• Nasscom's Requests:
  • Transfer Pricing Regime: Seek simplification to facilitate ease of doing business.
  • Deep Tech Policy: Call for clarity and guidance on the proposed policy.

21) Answer: C

Short Explanation:

• According to the data from GSTN, Uttar Pradesh (UP), Tamil Nadu, and Maharashtra are the top states in filing GST returns every month.
• Inter-state Trade and GST Revenue Collection:

• • Maharashtra, Haryana, Delhi, Karnataka, and Gujarat are prominent in IGST collection, reflecting high inter-state trade volumes.
  • Maharashtra tops in overall GST revenue collection, followed by Tamil Nadu, Gujarat, Karnataka, and Uttar Pradesh.

Detailed Explanation:

• According to the data from GSTN, Uttar Pradesh (UP), Tamil Nadu, and Maharashtra are the top states in filing GST returns every month, showcasing robust economic activity and compliance levels:

1. Uttar Pradesh (UP):
   1. Reported over 908,900 GST returns in April (GSTR-3B).
   2. Demonstrates significant transaction volume and economic activity.
2. Tamil Nadu:
   1. Recorded over 880,200 GST returns in the same period.
   2. Strong industrial base contributing to regular GST filings.
3. Maharashtra:

1. Positioned third with over 798,600 GST returns filed in April.
2. Leads in filings during the last month of every quarter, including smaller businesses under special schemes.

Economic Implications

• Economic Strength and Compliance:
  • Monthly return filings reflect economic vigor, compliance levels, and administrative efficiency.
  • More than 93% of registered businesses in these states are compliant with GST regulations.
• Revenue Generation and Tax Administration Efficiency:
  • States like Maharashtra, Tamil Nadu, and Gujarat lead in revenue collection potential, highlighting their economic prowess and demand for goods and services.

Quarter-end Trends

• Maharashtra's Quarterly Performance:
  • Reported 1.46 million GST returns in the March quarter of FY24, leading nationally.
  • Indicates robust business activity and substantial revenue contributions.

Sectoral Insights

• Automobile Sector Contribution:
  • Maharashtra, Uttar Pradesh, Karnataka, Odisha, and Tamil Nadu are key states for GST cess collection on automobiles.
  • Signifies these states as major markets for the automobile industry.
• Inter-state Trade and GST Revenue Collection:
  • Maharashtra, Haryana, Delhi, Karnataka, and Gujarat are prominent in IGST collection, reflecting high inter-state trade volumes.
  • Maharashtra tops in overall GST revenue collection, followed by Tamil Nadu, Gujarat, Karnataka, and Uttar Pradesh.

22) Answer: A

Short Explanation:

• A US District Judge, Margo Brodie, has rejected a proposed $30 billion antitrust settlement involving Visa and Mastercard, aimed at addressing fees charged to merchants who accept their credit and debit cards.
• Antitrust Litigation Background:The settlement was intended to resolve litigation dating back to 2005 concerning interchange fees, also known as swipe fees, paid by merchants to accept Visa and Mastercard.

Detailed Explanation:

• A US District Judge, Margo Brodie, has rejected a proposed $30 billion antitrust settlement involving Visa and Mastercard, aimed at addressing fees charged to merchants who accept their credit and debit cards.
• The announced decision significantly affects ongoing litigation and negotiations between the card networks and merchants.

• Antitrust Litigation Background:The settlement was intended to resolve litigation dating back to 2005 concerning interchange fees, also known as swipe fees, paid by merchants to accept Visa and Mastercard.
• Terms of the Proposed Settlement:
  • Fee Reductions: Visa and Mastercard agreed to reduce the average swipe fee by at least 0.04 percentage points for three years.
  • Fee Cap: Fees were also capped below current averages for the subsequent five years.
  • Provisions: Anti-steering provisions were to be removed, allowing merchants more flexibility in offering discounts or surcharges.

23) Answer: B

Short Explanation:

• RailTel was honoured with the ET Government PSU Leadership & Excellence Award 2024 in the 'Leadership in Digital Transformation' category.
• The award ceremony took place during the 5th ET Govt National PSU Summit 2024, where Dr. Jitendra Singh presented the prestigious accolade.

Detailed Explanation:

• RailTel was honoured with the ET Government PSU Leadership & Excellence Award 2024 in the 'Leadership in Digital Transformation' category.
• The award ceremony took place during the 5th ET Govt National PSU Summit 2024, where Dr. Jitendra Singh presented the prestigious accolade.
• Achievements Recognized: The award acknowledges RailTel's exceptional contributions in digital transformation within the public sector.
• RailTel was recognized for successfully implementing the Hospital Management Information System (HMIS) across 709 healthcare facilities of Indian Railways.

Impact of HMIS Implementation:

• Enhanced Hospital Administration: HMIS has streamlined hospital operations and improved patient care through electronic medical record management.
• Innovative Solutions: RailTel developed teleconsultation and beneficiary apps integrated with HMIS, empowering medical beneficiaries with seamless access to healthcare services.

24) Answer: A

Short Explanation:

• Garden Reach Shipbuilders & Engineers (GRSE) Ltd. was honoured with the "Sustainable Governance Champion Award" at the Outlook Planet Sustainability Summit & Awards 2024.
• Commitment to Sustainability: This accolade underscores GRSE's steadfast dedication to sustainable practices and governance excellence.

Detailed Explanation:

• Garden Reach Shipbuilders & Engineers (GRSE) Ltd. was honoured with the "Sustainable Governance Champion Award" at the Outlook Planet Sustainability Summit & Awards 2024.
• Commitment to Sustainability: This accolade underscores GRSE's steadfast dedication to sustainable practices and governance excellence.
• The award recognizes GRSE's proactive efforts in embedding sustainability into its core operations, fostering innovation, and promoting environmental stewardship, particularly within the maritime and defence sectors.

Achievements in Sustainability:

• Innovative Practices: GRSE has pioneered sustainable practices by integrating advanced technologies and eco-friendly measures into its shipbuilding processes.
• Environmental Stewardship: The company's initiatives set new benchmarks in promoting environmental responsibility and sustainability across its operations.

25) Answer: C

Short Explanation:

• Tata Electronics has entered into a memorandum of understanding (MoU) with US-based chip design leader Synopsys to enhance process technology and foundry design capabilities at India’s first semiconductor fab in Dholera.

Detailed Explanation:

• Tata Electronics has entered into a memorandum of understanding (MoU) with US-based chip design leader Synopsys to enhance process technology and foundry design capabilities at India’s first semiconductor fab in Dholera.

Areas of Collaboration:

• Technology CAD Flow: Establishing a robust Technology Computer-Aided Design (TCAD) flow for precise technology transfer.
• Process Design Kits (PDK) and Design Enablement: Developing essential kits and enabling designs for efficient semiconductor manufacturing.
• Intellectual Property Development: Creating foundational and analog intellectual properties crucial for semiconductor design.
• Design Technology Co-optimization: Implementing methodologies for optimizing design and technology integration.

Tata Electronics Initiatives:

• Dholera Fab Facility: Tata Electronics plans India’s first fab in Dholera, Gujarat, with an investment of Rs 91,000 crore.
• Jagiroad Facility: Investing an additional Rs 27,000 crore in a greenfield facility in Jagiroad, Assam, for semiconductor assembly and testing.

26) Answer: C

Short Explanation:

• The Indian Institute of Technology Madras (IIT Madras) and the University of Leeds, UK have signed a Memorandum of Understanding (MoU) to establish the Joint Virtual Centre of Excellence on Sustainable Development (VCoE-SD).
• This collaborative initiative aims to foster impactful research and innovation towards achieving sustainable development goals.

Detailed Explanation:

• The Indian Institute of Technology Madras (IIT Madras) and the University of Leeds, UK have signed a Memorandum of Understanding (MoU) to establish the Joint Virtual Centre of Excellence on Sustainable Development (VCoE-SD).
• This collaborative initiative aims to foster impactful research and innovation towards achieving sustainable development goals.

Objectives

• Network Development:
  • Create a self-sustaining network of high-quality staff to drive collaborative research.
  • Identify opportunities for joint projects and initiatives.
• Academic Collaboration:
  • Facilitate collaborative research projects between IIT Madras and the University of Leeds, UK.
  • Engage in joint academic activities such as new courses, conferences, seminars, symposia, and lectures.

27) Answer: A

Short Explanation:

• Sri Lanka is set to sign agreements with India and Japan to restructure bilateral debt, marking significant progress in its economic recovery efforts.

Negotiations and Agreements

• Current Status: Sri Lanka has been in negotiations with the Paris Club, India, and China since declaring sovereign default in 2022.
• In-Principle Deals: In-principle agreements were reached last year, paving the way for formal restructuring with bilateral creditors.
• Financial Support: India's substantial assistance of over USD 4 billion was pivotal during Sri Lanka's economic crisis, addressing forex shortages and essential supply disruptions.

Detailed Explanation:

• Sri Lanka is set to sign agreements with India and Japan to restructure bilateral debt, marking significant progress in its economic recovery efforts.

Negotiations and Agreements

• Current Status: Sri Lanka has been in negotiations with the Paris Club, India, and China since declaring sovereign default in 2022.
• In-Principle Deals: In-principle agreements were reached last year, paving the way for formal restructuring with bilateral creditors.
• Financial Support: India's substantial assistance of over USD 4 billion was pivotal during Sri Lanka's economic crisis, addressing forex shortages and essential supply disruptions.

Economic Stabilization Efforts

• IMF Financing: Assurance from India and other creditors facilitated approval of IMF financing in March last year, crucial for Sri Lanka's economic stability and recovery.

Terms of Restructuring

• Provisions: Includes maturity extensions and a moratorium without a debt haircut, maintaining 'Net Present Value' calculations.
• Presidential Address: President Wickremesinghe will deliver a special national address, likely focusing on the details and implications of the debt restructuring plans.

Future Outlook

• Project Resumption: Signing agreements will enable the resumption of loan-funded projects critical for Sri Lanka's development and infrastructure enhancement.

28) Answer: A

Short Explanation:

• Indian Army engineers constructed a 150-foot suspension bridge in north Sikkim in less than 48 hours.
• The bridge was built over a river with water flowing at speeds exceeding 20 knots.
• Impact on Connectivity:The bridge re-established connectivity to border villages that were cut off due to heavy rains in parts of Sikkim.

Detailed Explanation:

• Indian Army engineers constructed a 150-foot suspension bridge in north Sikkim in less than 48 hours.
• The bridge was built over a river with water flowing at speeds exceeding 20 knots.
• Impact on Connectivity:The bridge re-established connectivity to border villages that were cut off due to heavy rains in parts of Sikkim.
• It provided crucial relief to the local population by restoring access to essential resources.
• Challenges Faced:The construction took place under challenging conditions, including adverse weather and fast-flowing river waters.
• Despite these challenges, the Indian Army engineers showcased exceptional technical proficiency and capability.
• Humanitarian Relief:The bridge's completion ensured that residents of isolated border villages could receive necessary support and resources during the severe weather conditions.
• It facilitated the movement of people and the delivery of essential relief materials to the affected areas.
• Strategic Importance:The suspension bridge serves a vital strategic role by maintaining connectivity to critical border regions, and enhancing logistical capabilities during emergencies.

29) Answer: D

Short Explanation:

• Defence Services Staff College (DSSC), Wellington,Tamil Nadu (TN) and Defence Services Command and Staff College (DSCSC), Mirpur, Dhaka,Bangladesh have inked a Memorandum of Understanding (MoU) for cooperation concerning Military Education in the field of Strategic and Operational Studies.
• Aim : To enhance bilateral engagements and cooperation between the two military colleges.

Detailed Explanation:

• Defence Services Staff College (DSSC), Wellington,Tamil Nadu (TN) and Defence Services Command and Staff College (DSCSC), Mirpur, Dhaka,Bangladesh have inked a Memorandum of Understanding (MoU) for cooperation concerning Military Education in the field of Strategic and Operational Studies.
• Aim : To enhance bilateral engagements and cooperation between the two military colleges.
• Training Objectives:Both colleges provide training to officers of the tri-services, preparing them for higher staff and command responsibilities.
• Benefits of the MoU:The MoU will enhance professional acumen among student officers and faculty members.

30) Answer: B

Short Explanation:

• Biocon Biologics Limited. (BBL), a global, integrated biosimilars company and a subsidiary of Biocon Limited., has received approval from the European Medicines Agency (EMA) to manufacture biosimilar Bevacizumab at its new, world-class, multi-product monoclonal antibodies (mAbs) drug substance facility at Bengaluru, Karnataka.
• EMA renewed its Good Manufacturing Practice (GMP) certificate of compliance for BBL’s biosimilar manufacturing facility in Bengaluru.
• The insulin manufacturing facility in Malaysia also received GMP certification renewal following routine inspections.

Detailed Explanation:

• Biocon Biologics Limited. (BBL), a global, integrated biosimilars company and a subsidiary of Biocon Limited., has received approval from the European Medicines Agency (EMA) to manufacture biosimilar Bevacizumab at its new, world-class, multi-product monoclonal antibodies (mAbs) drug substance facility at Bengaluru, Karnataka.
• The Bengaluru facility had previously been approved to manufacture biosimilar Trastuzumab in September 2022.
• EMA renewed its Good Manufacturing Practice (GMP) certificate of compliance for BBL’s biosimilar manufacturing facility in Bengaluru.
• The insulin manufacturing facility in Malaysia also received GMP certification renewal following routine inspections.
• These certificates were issued by the Health Products Regulatory Authority (HPRA), Ireland, on behalf of EMA.
• CEO & Managing Director, Biocon Biologics Limited : Shreehas P Tambe

31) Answer: D

Short Explanation:

• India concluded their campaign at the Under-17 Asian Wrestling Championships in Amman, Jordan, with an impressive tally of 11 medals: four gold, two silver, and five bronze.

Detailed Explanation:

• India concluded their campaign at the Under-17 Asian Wrestling Championships in Amman, Jordan, with an impressive tally of 11 medals: four gold, two silver, and five bronze.

Women Wrestlers Dominate:

• Gold Medalists: Dipanshi (46 kg), Muskan (53 kg), Rajnita (61 kg), and Mansi Lather (69 kg) showcased exceptional performances in their weight categories, securing gold medals.
• Silver Medalist: Raja Bala displayed determination in the 40 kg category, earning a silver despite fierce competition.

Men's Achievements:

• Silver Medal: Samarth Gajanan Mhakave demonstrated skill in the 55 kg category, claiming a silver medal.
• Bronze Medalists: Akash (65 kg), Sachin Kumar (71 kg), Bikash Kacchap (48 kg), Tushar Tukaram Patil (60 kg), and Ronak (110 kg) exhibited their prowess with bronze medal victories.

32) Answer: C

Short Explanation:

• Anush Agarwalla, an Asian Games medallist, has been chosen by the Equestrian Federation of India (EFI) to represent the nation in the dressage event at the upcoming Paris Olympics.
• His selection came after edging out competitor Shruti Vora with superior average scores.

Detailed Explanation:

• Anush Agarwalla, an Asian Games medallist, has been chosen by the Equestrian Federation of India (EFI) to represent the nation in the dressage event at the upcoming Paris Olympics.
• His selection came after edging out competitor Shruti Vora with superior average scores.
• Historic Milestone: This decision marks a historic moment for India, as it signifies the country's inaugural entry into the Olympic dressage competition.
• About Anush Agarwalla: Anush Agarwalla's selection underscores his prowess in the sport and his significant achievements, including past success at the Asian Games.
• EFI's Decision: The Equestrian Federation of India's selection process emphasized performance metrics, with Agarwalla's consistent excellence earning him the opportunity to represent India on the global stage in Paris

33) Answer: E

Short Explanation:

• The Indian Olympic Association (IOA) has announced substantial cash awards for Indian athletes achieving medals at the Paris Olympic Games, scheduled from July 26 to August 11, 2024.

For Individual Medallist:

Gold Medalists: Rs 1 crore

Silver Medalists: Rs 75 lakh

Bronze Medalists: Rs 50 lakh

Comparison with Government Awards:

• These awards are in addition to the government's existing scheme:
  • Gold Medal: Rs 75 lakh
  • Silver Medal: Rs 50 lakh
  • Bronze Medal: Rs 30 lakh

Detailed Explanation:

• The Indian Olympic Association (IOA) has announced substantial cash awards for Indian athletes achieving medals at the Paris Olympic Games, scheduled from July 26 to August 11, 2024.

For Individual Medallist:

Gold Medalists: Rs 1 crore

Silver Medalists: Rs 75 lakh

Bronze Medalists: Rs 50 lakh

Comparison with Government Awards:

• These awards are in addition to the government's existing scheme:
  • Gold Medal: Rs 75 lakh
  • Silver Medal: Rs 50 lakh
  • Bronze Medal: Rs 30 lakh

Historical Context:

• IOA's cash awards have seen a significant increase since their inception:
  • In 2018 Asian Games: Gold (Rs 5 lakh), Silver (Rs 3 lakh), Bronze (Rs 2 lakh)
  • Tokyo Olympics 2021: Gold (Rs 75 lakh), Silver (Rs 40 lakh), Bronze (Rs 25 lakh)

34) Answer: D

Short Explanation:

• English statistician and one of the inventors of the Duckworth-Lewis-Stern (DLS) method, Frank Duckworth passed away at the age of 84.
• Duckworth was born in 1939 in Lytham St Annes, Lancashire, England.
• The Duckworth-Lewis method, devised by Duckworth and fellow statistician Tony Lewis, was introduced to determine results in rain-affected cricket matches.
• The method was first used in international cricket in 1997 and was formally adopted by the ICC as the standard method for setting revised targets in truncated games in 2001.

Detailed Explanation:

• English statistician and one of the inventors of the Duckworth-Lewis-Stern (DLS) method, Frank Duckworth passed away at the age of 84.
• Duckworth was born in 1939 in Lytham St Annes, Lancashire, England.
• The Duckworth-Lewis method, devised by Duckworth and fellow statistician Tony Lewis, was introduced to determine results in rain-affected cricket matches.
• The method was first used in international cricket in 1997 and was formally adopted by the ICC as the standard method for setting revised targets in truncated games in 2001.
• Recognition and Awards : Duckworth and Lewis were both awarded MBEs (Member of the Order of the British Empire) in June 2010.
• Functionality of the DLS Method : The DLS method is based on a complex statistical analysis that considers many factors like wickets remaining and overs lost, among others, to set a revised target for the team batting second.

35) Answer: B

Short Explanation:

• Jessica Pegula emerged victorious at the Berlin Open after a series of compelling matches, including a rain-interrupted semi-final against top seed Coco Gauff and a final against Anna Kalinskaya.

Player Profile

• Ranking: Currently ranked fifth in the world.
• Achievement: Adds the Berlin Open title to her list of accomplishments.

Detailed Explanation:

• Jessica Pegula emerged victorious at the Berlin Open after a series of compelling matches, including a rain-interrupted semi-final against top seed Coco Gauff and a final against Anna Kalinskaya.

Championship Win

• Final Match: Defeated Anna Kalinskaya in the final to claim the title.
• Performance: Demonstrated resilience and skill throughout the tournament.

Player Profile

• Ranking: Currently ranked fifth in the world.
• Achievement: Adds the Berlin Open title to her list of accomplishments.